REBGV/FVREB Stats For Tuesday May 29, 2018

REBGV and FVREB Real Estate Stats for May 29th, 2018

Sales Snapshot:

Sales Snapshot

Real Estate Board of Greater Vancouver (REBGV) Results

Date# Of
Sales
Avg
List
Price
Avg
Sale
Price
Avg
Diff$
Avg
Diff%
Avg
DOM
2018-05-29157$1,144,246$1,112,567$31,6792.7727

Fraser Valley Real Estate Board (FVREB) Results
Date# Of
Sales
Avg
List
Price
Avg
Sale
Price
Avg
Diff$
Avg
Diff%
Avg
DOM
2018-05-29104$1,256,652$1,166,362$90,2907.1818

Results for Both Boards
Date# Of
Sales
Avg
List
Price
Avg
Sale
Price
Avg
Diff$
Avg
Diff%
Avg
DOM
2018-05-29261$1,189,036$1,134,002$55,0334.6324

Market Monitor All Properties

Sell/list 55.15%. About a 10% increase from Monday.

Average price, all properties, both boards above $1 million by about 13%.

What about the attached market?

Real Estate Board of Greater Vancouver (REBGV) Attached Results

Date# Of
Sales
Avg
List
Price
Avg
Sale
Price
Avg
Diff$
Avg
Diff%
Avg
DOM
2018-05-29101$833,688$820,934$12,7541.5321

Fraser Valley Real Estate Board (FVREB) Attached Results
Date# Of
Sales
Avg
List
Price
Avg
Sale
Price
Avg
Diff$
Avg
Diff%
Avg
DOM
2018-05-2964$514,691$509,348$5,3421.0416

Attached Results for Both Boards
Date# Of
Sales
Avg
List
Price
Avg
Sale
Price
Avg
Diff$
Avg
Diff%
Avg
DOM
2018-05-29165$709,956$700,076$9,8791.3919

Market Monitor Attached
Sell/list 60.80%. 15% increase over the day before.

These are detached:

Real Estate Board of Greater Vancouver (REBGV) Detached Results

Date# Of
Sales
Avg
List
Price
Avg
Sale
Price
Avg
Diff$
Avg
Diff%
Avg
DOM
2018-05-2951$1,792,837$1,730,315$62,5213.4929

Fraser Valley Real Estate Board (FVREB) Detached Results
Date# Of
Sales
Avg
List
Price
Avg
Sale
Price
Avg
Diff$
Avg
Diff%
Avg
DOM
2018-05-2937$984,935$967,369$17,5651.7822

Detached Results for Both Boards
Date# Of
Sales
Avg
List
Price
Avg
Sale
Price
Avg
Diff$
Avg
Diff%
Avg
DOM
2018-05-2988$1,453,151$1,409,531$43,6193.0026

Market Monitor Detached
Sell/list 0.45%. 15% better than the day before, not ideal but better regardless.

  • 18 properties sold for $2 million or more.Normal.
  • 63 sold for $500,000 or less. Highish.
  • The least expensive sales?Apartments and land parcels located in Maple Ridge, Abbotsford and Mission.
  • Most expensive? Almost 47 Million development property in White Rock.
  • 91 properties sold within 7 days. Slightly Better than Yesterday.
  • Longest time on market? Over 275 days for a building lot on Bowen Island.

Inventory

REBGV Total

Inventory is climbs again, only 0.37% however. It is noteworthy for being such a small change.

GV Total Inventory

Note the labels in the boxes. Status “A” means “Active”; Region is self explanatory; Class “RD” means “Residential Detached” (or “Attached”, as the case may be). There are slight discrpeancies between the total inventory and the sum of detached and attached – those discrepancies reflect multi-family and land sales.

REBGV Detached

GV Detached Inventory

REBGV Attached

GV Attached Inventory
FVREB Total

FV Total Inventory

FVREB Detached

FV Detached Inventory

FVREB Attached

FV Attached Inventory
Total Inventory Both Boards

Total Inventory

How to read these tables:

The first column is date, which is self-explanatory. The second is the number of sales in the specific area. Sales include detached, attached, apartment, land only and multi-family. Multi-family tends to include smaller multi-unit buildings rather than apartment buildings, which usually turn up on the commercial MLS system. There are also few multi-family sales each week. The third column is average list price for the day – in other words, the total of all list prices divided by the number of new listings. The fourth column is the average sales price of all sales reported that day. The sales are reported after subjects are removed, and can be from 0 to perhaps 14 days old. Listings, by comparison, are generally brand new, and lag by at most 3-5 days (in times of high listing volume the lag can be a little more, but not as much as with sales).

The fifth and sixth columns show the difference between average list price and sell price in dollar figures and percentages. Hot markets see properties sell within 1%-1.5% of list price.

The last column is days on market (DOMs). In most real estate markets 60 DOMs is by no means bad, and would often be regarded as great. In the Lower Mainland, especially compared to the last decade, it is high. Hot markets see DOMs like 30.

Vancouver real estate sales statistics are courtesy of the Real Estate Board of Greater Vancouver, and while all efforts are made to ensure their accuracy, neither the REBGV nor Rob Chipman are liable for any errors.

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